Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

983 N Arroya Road Apache Junction, AZ 85119

3 Beds 2 Baths 1,569 sqft Built 1987

$329,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $209.69
  • 2 Days on Market
  • MLS # : 6169161
  • Updated Date : 12/12/2020 at 19:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,569 sqft
  • Baths : 2 full
Listing Agent

Homesmart

Listing Agent's Description

Superstition mountain views! Custom 1569 sf home features a formal living room, open family room/kitchen is great for entertaining * three bedrooms (split master bedroom) , two bathrooms (second bath recently remodeled) * Large laundry/storage room * The backyard features a wrap around deck to enjoy the views, an above ground spa and firepit * Have toys? You'll love the 19'w x24' l x 9'6''H carport PLUS a two car carport in front, of the 20'x20' garage and 9'x8' workshop *

SEE MORE

PRICE & RENT TRENDS

Zip Code: 85119

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k285k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 85119

ZipNIR Market*CityMarket2010Year20002019 Q2900950100010501100115012001250130013501400145015001550Rent in $9001567

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Desert Vista Elementary School Primary Regular 697 34 4
Cactus Canyon Junior High School Middle Regular 780 40 4
Apache Junction High School High Regular 1,304 69 3

Desert Vista Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 34
4
GreatSchools Rating

Cactus Canyon Junior High School

  • Education Level: Middle
  • # of students: 780
  • # of teachers: 40
4
GreatSchools Rating

Apache Junction High School

  • Education Level: High
  • # of students: 1,304
  • # of teachers: 69
3
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$1,214
Property Tax -$225
Property Insurance -$58
Property Management Fees -$99
CASH FLOW
-$215

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$329,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,448

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,577

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6003$2,100
$2,100
RENT COMPS ANALYSIS
  • 983 N Arroya Road Apache Junction, AZ 1
    • 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,569 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 475 N Val Vista Road Apache Junction, AZ 2
    • 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,763 Sqft ∙ Built 1985
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 5121 E 18th Avenue Apache Junction, AZ 3
    • 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,902 Sqft ∙ Built 2001
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.10
    •  
PROPERTY LISTING DETAILS
Roxanne Pierson
Homesmart
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169161
Last Updated: 12/12/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

BESbswy